What is included in Statement of Assests and Liabilities on ITR12?

Posted 31 October 2012

If I earn business income as a sole proprietor for services delivered as an electronic engineer, do I need to declare all my personal assets (bank balance, investments, motor vehicle, etc.) on the Statement of Assets, or only the assets that I mainly use for business (i.e. laptop computer)? I do not have a separate business bank account. Do fixed bank deposits fall under "Financial instruments" or "Cash in Bank" or does it not really matter? For investments such as unit trust...

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I earn R8500 and have never been registered at SARS, my boss says I don't need to, is this correct?

Posted 31 October 2012

I earn R8500 a month, which is the most I've ever earned. My boss keeps my salary low because he says that way I won't pay tax. I am so ignorant. Am I breaking the law or is my boss? SARS doesn't know I exist. Would I be fined? I don't have any savings stored up either. It's not that I did this on purpose. If I register it'll jeopardize my job. In fact, everyone working for him isn't registered with SARS. Isn't there a form you're supposed to have at ...

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If I have two IRP5's do I add them together?

Posted 31 October 2012

I retired from my company mid last year and the worked for the same company as a contractor for three months, what do I do with my IRP5's?

How do I create a new eFiling account?

Posted 29 October 2012

My IRP5 had incorrectly been issued on my late husband's tax reference number. I had used this number to create an e-filing account. The reference number has since been sorted out at a SARS branch but not on e-filing. How to I change the tax reference number that my e-filing account is registered with?

Disability and critical illness insurance, are they tax deductible?

Posted 29 October 2012

I have these policies with Momentum and i just want to confirm if they are tax deductable? Although the policy is not an income protection policy it still plays the same roll should i not be able to work. I did request a tax certificate from Momentum but i'm still waiting and christmas is also coming :)

If I earn R1500 a week how much tax would my employer deduct from me?

Posted 29 October 2012

I earn R1500 a week, want to know how much I will be taxed and if I even need to pay taxes.

Do I have to be registered with SARS if I don't work?

Posted 29 October 2012

I am a housewife and someone said to me that SARS must know of my existence. Is this true? Is it necessary to aggravate myself by standing in insanely long queues?

What does documentation for review actually mean?

Posted 29 October 2012

Hi there, all documents that SARS requested has been reviewed and given the all clear from the auditor at my local branch, when I called the call center they could not assist in telling me how long till the finalization. I don't understand if the all clear has been given by the auditor surely they can finalize it and do the payout? Or am I missing something?

Why has my assessment changed?

Posted 29 October 2012

I submitted my tax return for year 2012 and I was told that I will be refunded then they asked me to submit my documents. I got a mail back from SARS saying I own them or am incorrect. Help please because first it was a minus amount and now it is a amount without the minus. Does this mean I own SARS? If yes is there a way I can ask for a reassessment or must i go in to SARS office to check everything?

Can you re-submit a 2011 tax return if it's been assessed already?

Posted 29 October 2012

The taxpayer did not tick the "disabled" block on the return for 2011.

When completing a IRP5 do we deduct the medical tax credit from the paye before putting on the IRP5

Posted 29 October 2012

We are not sure whether you deduct the medical tax credit from the paye before filling in the paye on the IRP5 or do we put full paye in before medical tax credit

What is the refund process once I have been selected for audit by SARS?

Posted 29 October 2012

What is the process if you have been selected for audit but e filing status is correction filed. I submitted supporting docs. Sars Status is has been assessed and statement of account shows a refund. How long does it take for money to be refunded.

How do I convert from a provisional taxpayer to a regular taxpayer?

Posted 29 October 2012

I have been paying tax as a Provisional Taxpayer to 2004 tax year. I was then permanently overseas and no longer liable for tax in SA. I returned in April 2012 and wish to pay tax as a regular taxpayer. Do I need to re-register or can I give my employer my provisional tax reference no.?

Are there alternative methods of obtaining an IRP5?

Posted 29 October 2012

I need my IRP 5 from my previous employer in order to complete my tax return.

I have tried to limit all contact with my previous employer for serious emotional reasons. So my query is:

- Is there any other way of getting hold of my IRP5, other than having to contact them?
- Can I hire someone (if it comes to that) to collect/obtain my IRP5 for me?

Should Business and Personal Income Tax be filed separately?

Posted 29 October 2012

I registered a business last year and need to know if I should submit the business tax returns separately? We only started trading in May 2012. Must the business tax returns be done separately or must if be part of my personal income tax returns?

The business was registered in September 2011.

When receiving a travel allowance, can I claim depreciation the vehicle?

Posted 29 October 2012

I use my own car (which is financed) to do my work (labour law consultant) for a company. Can I claim depreciation against my car for this?

Incomplete ITR12 2012 tax form: Pay Periods

Posted 29 October 2012

Error in form Pay Periods. Field: Period of Tax Year. Value: 0.000. The Periods of year assessment does not seem to be valid. Only numeric digits may be used. The no. of periods worked value can't be greater than periods of year of assessment value. The value should be greater than 0. The number specified should include decimals. Please assist. What/where do I need to correct on form. Submitted manually.

Have problems with password on SARS eFiling website

Posted 29 October 2012

I have tried to submit my Income Tax return via efiling but it keeps on telling me to include @#$%^& = which I have done but it does not accept it?

How do I access the page listing documents I need to complete my return?

Posted 29 October 2012

I am busy answering the questions on TaxTim but need to go back to the page containing the source documents e.g IRP5, IT3b etc. How do I do this?

Do I need to register for tax as I am a temp and I don't see any tax deductions on my pay slip

Posted 29 October 2012

I am not sure if I am earning under the bracket for tax deductions.

Do I need to register as a taxpayer as I am a temp and I think I am earning below the bracket ?

Posted 29 October 2012

I see on my salary advice that there are no tax deductions.

How do I submit income tax? How do I calculate income tax?

Posted 16 October 2012

Hi

I need to submit my income tax for 2012 and how do I calculation my tax and complete the income tax form?
My monthly salary package is R13000 with pension fund incl. (I paid -R890 and company paid -R1210 show on payslip)

Travel allowance (R1000 per month)

So it's R13000 (incl. pension fund) Travel allowance R1000 = R14000 Gross income
And I also paid medical aid by myself ( -R960 for myself , -R1100 for my father and -R1100 for my mother) from my own pocket....

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How much tax do I get charged on a R10000.00 salary?

Posted 14 October 2012

I would like to find out on a R10 000 salary, how l much tax would be deducted and would I be eligible to claim tax in the future?

How does the tax on medical aid contributions appear on my IRP5?

Posted 14 October 2012

I am a pensioner and the company I worked for pays my medical aid contributions in full. When I call up my file on efiling, the prepopulated fields are (3810) and (4005) with a "1" and field (4474) with the full amount of the contributions paid by the company. Is this correct? I do not receive a pension from the company.

What is the Retirement Annuity Fund contribution deduction limited to?

Posted 14 October 2012

Taxable income before RAF deduction is R100 000 per annum. RAF contributions are R1200 per annum. (Is the RAF deduction limited to actual RAF contributions?) Please advise what RAF deduction I can used in my tax calculation?
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